Precious metals taking a beating.

[johnmatrix]

lol worried about the government stealing your gold. you people are fuckin nuts.

 

[Pheasant]

lol worried about the government stealing your gold. you people are fuckin nuts.

Yeah, that would never happen in north america.

 

[VonRohn]

lol worried about the government stealing your gold. you people are fuckin nuts.

Banking Act 1959

 

[johnmatrix]

Banking Act 1959

Those restrictions were removed in 1976 bro.

 

[VonRohn]

Those restrictions were removed in 1976 bro.

Forcing you to sell your gold for an amount they choose is a "restriction"? Anyway, that part of the Act was not removed, only suspended.

Before you rush to deliver your gold to the RBA, note that Part IV is currently “suspended”. My blog of 04 August details the suspension by way of a transcription of a press release by the Treasurer on 30 January 1976.

Gold and Silver Confiscation in Australia

 

[Unarmed Gunman]

lol worried about the government stealing your gold. you people are fuckin nuts.

Executive Order 6102 - Wikipedia, the free encyclopedia

lol FDR FDR lol

 

[johnmatrix]

Hoard platinum instead then.

 

[schockergd]

Why would you buy puts rather than just buying fewer ounces of silver to "protect yourself" ?

I trade silver, have a few contacts that supply me with silver under spot price so that I Can flip it. In the past, even with volatility i've been able to flip any amount of silver within 10 days and make a decent bit of cash. This time I went further and bought 2x more than normal in the hope of flipping it while the market was low.

 

[BlueYonder]

I sold loads of scrap metal at high prices, and I welcome the drop so I can start collecting again. I used to buy awesome jewelry on eBay at rock bottom prices, but recently this has been almost impossible. I'm talking about a large, solid 22k gold cartouche for $43 and similar deals. All the fun got sucked out of this pursuit with the run-up in gold prices.

 

[jorarulit]

buy gdx when gold prices hit rock bottom.
next resistance level is at 1340-1350

 

[cpauser]

a person that bought gold in jan 2011 would still be ahead

buy the dip

 

[acidie]

lol worried about the government stealing your gold. you people are fuckin nuts.

Those restrictions were removed in 1976 bro.

Hoard platinum instead then.

Not sure if trolling or just fucking stupid.

 

[r3p1v]

Who was selling $24b in gold? Where did that info come from?

I looked up how much Cyprus was or was planning on selling and it was only like $500m

 

[hehejo]

Only thing worrying me right now to buy gold and silver is that cpauser is bullish...

 

[WickedJoe]

Holy shit
Gold is at $1365/oz now. That's -137 for the day or -9.14%.

Silver is at $23.30/oz now. That's -3.02 for the day or -11.45%!

Still dropping

I knew once it fell below $1500 anything could happen.

 

[schockergd]

Who was selling $24b in gold? Where did that info come from?

I looked up how much Cyprus was or was planning on selling and it was only like $500m

No one knows, but there's only 4 possible suspects that could do it - US, EU, China or Japan.

If I had to bet money it'd be on the US government.

 

[Dwight Schrute]

lol worried about the government stealing your gold. you people are fuckin nuts.

Says the Aussie who can't have an AR-15

hahahahahaha

 

[mx=headroom]

Says the Aussie who can't have an AR-15

hahahahahaha

So much for you making money this week. I'll check back in next week and see how many new posts you have.

 

[Johnathan]

Anyone got some suggestions where to purchase physical silver?

 

[Digidex]

Holy shit
Gold is at $1365/oz now. That's -137 for the day or -9.14%.

Silver is at $23.30/oz now. That's -3.02 for the day or -11.45%!

Still dropping

I knew once it fell below $1500 anything could happen.

Damn. I wonder where it will be in 2 weeks. The question is, when do you feel it is safe enough to buy?